HK NEW MANAGEMENT: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
HK NEW MANAGEMENT
Largest movements
- Tangible fixed assets +€21,411
up €21,411 (+8.2%), from €261,578 to €282,989
of which Land and buildings: +€33,950
- Cash -€4,351
down €4,351 (-97.3%), from €4,470 to €119
mainly Net result for the year (-€65,488) and Investment in fixed assets (net) (-€45,939)
- Other debts +€78,388
up €78,388 (+28.3%), from €276,686 to €355,074
- Profit (loss) carried forward -€65,488
down €65,488 (-571%), from -€11,472 to -€76,960
- Trade debts +€7,082
up €7,082 (+173%), from €4,105 to €11,187
- Gross operating margin -€29,933
down €29,933 (-433%), from -€6,918 to -€36,851
- Depreciation +€11,095
up €11,095 (+82.6%), from €13,433 to €24,528
- Other operating charges +€3,552
up €3,552 (+917%), from €387 to €3,939
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €279,318 | €299,300 | +€19,982 | +7.2% |
| Fixed assets | 21/28 | €261,578 | €282,989 | +€21,411 | +8.2% |
| Tangible fixed assets | 22/27 | €261,578 | €282,989 | +€21,411 | +8.2% |
| Land and buildings | 22 | €81,448 | €115,398 | +€33,950 | +41.7% |
| Plant, machinery and equipment | 23 | €10,291 | €8,752 | -€1,539 | -15.0% |
| Furniture and vehicles | 24 | €169,839 | €158,839 | -€11,000 | -6.5% |
| Current assets | 29/58 | €17,741 | €16,312 | -€1,429 | -8.1% |
| Amounts receivable within one year | 40/41 | €12,743 | €15,647 | +€2,904 | +22.8% |
| Trade receivables | 40 | €316 | €13,909 | +€13,593 | +4,306% |
| Other amounts receivable | 41 | €12,427 | €1,738 | -€10,690 | -86.0% |
| Cash at bank and in hand | 54/58 | €4,470 | €119 | -€4,351 | -97.3% |
| Deferred charges and accrued income | 490/1 | €528 | €546 | +€18 | +3.4% |
| Total equity and liabilities | 10/49 | €279,318 | €299,300 | +€19,982 | +7.2% |
| Equity | 10/15 | -€1,472 | -€66,960 | -€65,488 | -4,449% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,472 | -€76,960 | -€65,488 | -571% |
| Amounts payable | 17/49 | €280,790 | €366,260 | +€85,470 | +30.4% |
| Amounts payable within one year | 42/48 | €280,790 | €366,260 | +€85,470 | +30.4% |
| Trade debts | 44 | €4,105 | €11,187 | +€7,082 | +173% |
| Suppliers | 440/4 | €4,105 | €11,187 | +€7,082 | +173% |
| Other amounts payable | 47/48 | €276,686 | €355,074 | +€78,388 | +28.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,433 | €24,528 | +€11,095 | +82.6% |
| Other operating charges | 640/8 | €387 | €3,939 | +€3,552 | +917% |
| Gross operating margin | 9900 | -€6,918 | -€36,851 | -€29,933 | -433% |
| Operating profit (loss) | 9901 | -€20,738 | -€65,318 | -€44,579 | -215% |
| Financial income | 75/76B | €2 | - | -€2 | |
| Recurring financial income | 75 | €2 | - | -€2 | |
| Financial charges | 65/66B | €155 | €170 | +€15 | +10.0% |
| Recurring financial charges | 65 | €155 | €170 | +€15 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | -€20,891 | -€65,488 | -€44,597 | -213% |
| Profit (loss) for the period | 9904 | -€20,891 | -€65,488 | -€44,597 | -213% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,891 | -€65,488 | -€44,597 | -213% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.